(f) The partnership purchased the CD stock as an investment on February 15 of the current year for $100,000 and sold it on August 1 for $73,925 (9) The partnership use the land as a parking lot for the business. The partnership purchased the land four years ago on March 17 for $30,000 and sold it on August 15 of the current year for $35,050 Table 9-2 Dapper-Dons Partnership Balance Sheet for January 1 and December 31 of the Current Year Balance January 1 Balance December 31 Assets: Cash $10,000 $40,000 Accounts receivable 72,600 150,100 Inventories 200,050 146,000 Marketable securities(a) 220,000 260,000 Building and equipment 374,600 465,000 Minus: Accumulated depreciation (160,484) (173,100) Land M m Total Assets $901,766 $1,128,000 Liabilities and equities: Accounts payable $35,000 $46,000 Accrued salaries payable 14,000 18,000 Payroll taxes payable 3,416 7,106 Sales taxes payable 5,200 6,560 Mortgage and notes payable 44,000 52,000 (current maturities) Long-term debt 210,000 275,000 Capital: Dapper 236,060 289,334 Dons M 43_4.M Total liabilities and equities $901,766 $1,128,000 (3.) Short-term investment